TORONTO — The Toronto stock exchange reversed course from a big loss the previous session to post a triple-digit gain as zig-zagging oil prices rose sharply on the day.

The S&P/TSX composite index closed up 188.16 points at 12,331.32, following a 246-point decline on Monday.

In New York, the Dow Jones industrial average bounced back from a 208-point decline the day before as it soared 282.01 points to 16,167.23. The S&P 500 gained 26.55 points to close at 1,903.63 and the Nasdaq added 49.18 points to 4,567.67.

On commodity markets, the March contract for North American benchmark crude oil rose $1.11 to settle at US$31.45 a barrel, while the March contract for natural gas added 0.3 cents to US$2.158 per mmBtu.

February gold advanced $14.90 to US$1,120.20 a troy ounce.

The commodity-sensitive loonie was also a big beneficiary of the jump in oil prices, rising 0.97 of a cent to end trading at 71.05 cents US.

If Friday's gains are anything to go by, investors are champing at the bit

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